Black Maple Capital Management LP Acquires 40,000 Shares of Coterra Energy Inc. (NYSE:CTRA)

Black Maple Capital Management LP boosted its stake in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 307.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,000 shares of the company's stock after acquiring an additional 40,000 shares during the period. Coterra Energy accounts for approximately 0.7% of Black Maple Capital Management LP's holdings, making the stock its 26th biggest holding. Black Maple Capital Management LP's holdings in Coterra Energy were worth $1,354,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Coterra Energy by 3.1% in the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock worth $51,425,000 after acquiring an additional 64,753 shares in the last quarter. World Investment Advisors LLC bought a new position in Coterra Energy in the third quarter worth $1,749,000. Wilmington Savings Fund Society FSB purchased a new position in Coterra Energy during the third quarter valued at $621,000. Tidal Investments LLC boosted its holdings in shares of Coterra Energy by 19.9% during the 3rd quarter. Tidal Investments LLC now owns 143,947 shares of the company's stock valued at $3,448,000 after buying an additional 23,844 shares in the last quarter. Finally, Synovus Financial Corp grew its position in shares of Coterra Energy by 16.0% in the 3rd quarter. Synovus Financial Corp now owns 15,837 shares of the company's stock worth $379,000 after buying an additional 2,184 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $25.68 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12-month low of $22.30 and a 12-month high of $29.95. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33. The firm has a 50 day moving average of $26.61 and a 200 day moving average of $26.38.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.43%. This is a positive change from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy's dividend payout ratio is 58.28%.

Analysts Set New Price Targets

CTRA has been the subject of a number of recent research reports. Williams Trading set a $37.00 price objective on shares of Coterra Energy in a research note on Wednesday, March 5th. Susquehanna dropped their price target on Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Barclays lowered their price objective on Coterra Energy from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. UBS Group dropped their target price on Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on Coterra Energy from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $33.95.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 25,733 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.

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